David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Critical Review 14 (1):69-85 (2000)
Abstract In The Crisis of Global Capitalism, George Soros claims that the international financial economy is inherently unstable, and that while economists have failed to recognize this because of their commitment to static equilibrium theory, politicians have failed to stabilize the global economy because of their commitment to an unquestioned faith in the complete efficiency of laissez faire. While Soros is right to argue that market participants? expectations about the future can cause instability, he is wrong to maintain that this has gone unrecognized by economists, and his notion that we live in a world of economic laissez faire is equally mistaken. Indeed, his own analysis of the Asian financial crisis points to the ?moral hazard? created by expectations of government intervention, rather than to laissez faire, as the culprit.
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Kevin Dowd (2000). Are Free Markets the Cause of Financial Instability? Critical Review 14 (1):57-67.
Garett Jones (2000). “The Free Market” and the Asian Crisis. Critical Review 14 (1):47-56.
Clive R. Boddy (2011). The Corporate Psychopaths Theory of the Global Financial Crisis. Journal of Business Ethics 102 (2):255-259.
G. Rossouw (2012). Global Business Ethical Perspectives on Capitalism, Finance and Corporate Responsibility: The Impact of the Global Financial Crisis of 2008. [REVIEW] Asian Journal of Business Ethics 1 (1):63-72.
Christian Barry & Matthew Peterson (2010). Dealing Fairly with the Costs to the Poor of the Global Financial Crisis. In Iain MacNeil & Justin O'Brien (eds.), The Future of Financial Regulation. Hart.
Sean Sayers (2009). Marxism and the Crisis of Capitalism. Philosophical Trends 2009 (5):19-21.
Anastasia Nesvetailova (2005). United in Debt: Towards a Global Crisis of Debt-Driven Finance? Science and Society 69 (3):396 - 419.
Waheed Hussain (2006). Democratic Capitalism and Respect for the Value of Freedom. International Journal of Business Governance and Ethics 2 (s 3-4):280-293.
Roger Berkowitz & Taun N. Toay (eds.) (2013). The Intellectual Origins of the Global Financial Crisis. Fordham University Press.
Christian Barry & Matt Peterson (2011). Who Should Pay for the Damage of the Global Financial Crisis? In Ned Dobos Christian Barry & Thomas Pogge (eds.), Global Financial Crisis:The Ethical Issues. Palgrave.
Jeffrey Friedman (1992). After Libertarianism: Rejoinder to Narveson, McCloskey, Flew, and Machan. Critical Review 6 (1):113-152.
Joseph A. Petrick (2011). Sustainable Stakeholder Capitalism: A Moral Vision of Responsible Global Financial Risk Management. [REVIEW] Journal of Business Ethics 99 (S1):93-109.
Ross E. Stewart (1984). Sismondi's Forgotten Ethical Critique of Early Capitalism. Journal of Business Ethics 3 (3):227 - 234.
Added to index2011-10-18
Total downloads2 ( #397,806 of 1,410,002 )
Recent downloads (6 months)1 ( #176,758 of 1,410,002 )
How can I increase my downloads?